Binh Duong racks up over 1.2 billion USD in trade surplus
The southern province of Binh Duong enjoyed a trade surplus of more than 1.2 billion USD in the first quarter, with export turnover of over 5.6 billion USD and import value of nearly 4.4 billion USD.
Binh Duong (VNA) - The southern p🦂rovince of Binh Duong enjoyed a trade surplus of more than 1.2 billion USD in the first quarter, with export turnover of over 5.6 billion USD and import value of nearly 4.4 b⛦illion USD.
Outstanding exports were recorded in wood furniture (up 9.7 percent), garments (9.1 percent), footwear (13 percent) and electronic products (11.9 percent).
The foreign direct investment (FDI) sector accounted for 79 percent of the total export turnover, up 17.8 percent from the same period last year.
Efficient measures promoting trade and investment have been taken by the province with a view to enlarging domestic and international markets. Those include signing cooperation agreements with enterprises in the Netherlands’ Emmen and Hoovegeen cities.
Along with providing prompt external services for businesses investing in the locality, the province has paid attention to enhancing cooperation relations with other provinces and foreign partners.
Last year, the province licensed 176 new FDI projects worth 966 million USD and 734 million USD was added to 113 operational projects.
Binh Duong is now home to 26 industrial parks, covering a total area of 8,800 hectares. The average occupancy rate is 65 percent.
It plans to lure 1.4 billion USD in FDI in 2016. It vowed to continue to improve the local business climate and provincial Competitiveness Index by adding further support to investors, stepping up administrative reforms and ensuring social welfare.-VNA
The export turnover of Vietnam is estimated to touch 13.8 billion USD in January, slightly increasing by 0.5 percent against the previous month, according to the General Statistics Office (GSO).
A delegation from the Netherlands went on a fact-finding tour of the southern province of Binh Duong on March 9 to seek investment opportunities in the locality.
The Netherlands’ Twiceans International Law Firm and the Becamex Law Firm of southern Binh Duong province on March 9 signed a cooperation agreement for 2016-2020.
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Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
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With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
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Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
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A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
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The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
Garments production for exports (Photo: VNA)
